Motor Starters Market Major Trends Encouraging Growth until the End of 2027
Sustainable strategies employed by the government for economic power consumption on account of the surging energy cost concerns have been driving the demand for motor starters in the industries such automotive, power, mining, and oil and gas.
[ClickPress, Wed May 29 2019] The EMEA region is likely to remain a significant revenue contributor to the motor starters market with a high concentration of minerals and metals in this region that generates the demand for mining activities. New policies and regulations legislated by the government mandating the economical use of energy hold high probability for attracting the enterprises to plough in the lucrative opportunities available in the mining sector, which in turn is anticipated to bode well for the advancement of Motor Starters Market.
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Sustainable strategies employed by the government for economic power consumption on account of the surging energy cost concerns have been driving the demand for motor starters in the industries such automotive, power, mining, and oil and gas. Effectiveness of these devices for shielding DC motors from the damage caused by high torque and current during the starting of a motor is anticipated to fuel the growth of the motor starters market.
Manufacturers of the motor starters have been remodeling and enhancing the capacity of motor starters for boosting the overall capacity of a machine as their demand remains upheld by the innovations and advancements happening in the automotive industry. Promising sales prospects of motor starters to remain intact as industry 4.0 continues to foster automation in the processes of numerous sectors. However, unfavorable weather conditions that result in a corrosive environment is likely to challenge the adoption rate of motor starters.
The motor starters market can be characterized by the presence of a large number of international and local players that procure a significant amount of share. The motor starters market is dominated by partakers such as Danfoss, Siemens, Rockwell Automation,
ABB, Heatrex, Schneider Electric, R. Stahl, Inc., General Electric, WEG, Emerson Industrial Automation, Eaton, Westinhouse Electric Corporation, Mitsubishi Electric Corporation, Yaskawa, Toshiba, IMO Precision Controls, Huali, Fuji Electric, Franklin Electric, ARC Systems, and Allied Motion Technologies.
Danfoss – In October 2018, the company announced the acquisition of majority shares of the technologically forerunning company, Artemis Intelligent Power Ltd. headquartered in Scotland. The acquisition will allow the access of AIP’s Digital Displacement technology for the development of hydraulic pumps, systems, and motors with high-efficiency levels, design flexibility, and controllability for its customers.
Franklin Electric – In July 2018, the company acquired Stationary Power Division from Midtronics, Inc., a company possessing expertise in engineering, design, manufacturing, and marketing used in electric utilities, data center, and telecom industries. The acquisition will boost the overall competency of monitoring systems and products of Franklin’s existing electric grid solutions.
Fuji Electric – Recently, the company announced the launch of a high-capacity uninterruptible power supply system – 7400WX-T3u, with an aim to strengthen its power supply system business in the overseas market. The product underpins the construction of systems up to a capacity of 8000 kVA and helps in enhancing the data center capacity.
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Schneider Electric was incorporated in 1836 and headquartered in France. The company possesses a rich product portfolio including building automation, critical power and cooling for data centers, smart grid, electrical grid automation, electric power distribution, industrial control systems, industrial safety systems, and home automation. It holds over 20,000 patents and has been an active invests nearly 5% of its revenue in the research and development activities.
Mitsubishi Electric Corporation was established in 1921 and based in Japan. The multinational company enjoys its competency in the manufacturing of electronics and electrical equipment and its product ranges from space systems, information and communication systems, home appliances, industrial automation systems, electronic systems, and energy systems.
A sizeable share of the motor starters market is procured by the water and wastewater segment as the demand for clean water prevails in the highly populated countries. Competency of motor starters to facilitate uninterrupted distribution of water by offsetting challenges such as rising pressures, voltage fluctuations, and water hammering is anticipated to increase their employment rate in the water supply systems. Additionally, there has been a rise in the demand for electricity with the rapid emergence of industries and automation in the manual processes, which is anticipated to uphold the growth of the motor starters market in the upcoming years.
Increasing incidences of accidents in the industries causing severe damage to the health of workers have encouraged governments of numerous countries to enforce strict laws favorable to the workers, which has augmented the demand for motor starters to ensure the safe start of a machine. Rapid industrialization coupled with increasing employment rate in the developing countries has fanned the trends of adoption of motor starters to protect their workers from serious damage, which is anticipated to influence the growth of the market in the coming years.
The research report presents a comprehensive assessment of the Motor Starters market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Motor Starters market segments such as geographies, application and industry.
The Motor Starters market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Motor Starters market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Motor Starters market segments and geographies.
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